Ieq Capital LLC Purchases 3,273 Shares of American Express (NYSE:AXP)

Ieq Capital LLC lifted its position in shares of American Express (NYSE:AXP) by 13.3% in the 2nd quarter, Holdings Channel reports. The fund owned 27,929 shares of the payment services company’s stock after buying an additional 3,273 shares during the quarter. Ieq Capital LLC’s holdings in American Express were worth $6,467,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in AXP. Alphinity Investment Management Pty Ltd bought a new position in American Express during the first quarter worth about $433,709,000. TD Asset Management Inc lifted its stake in shares of American Express by 62.1% during the 4th quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock valued at $449,521,000 after buying an additional 919,337 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in American Express by 8.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after buying an additional 662,382 shares during the period. Bank of Nova Scotia grew its stake in American Express by 969.9% in the 4th quarter. Bank of Nova Scotia now owns 602,726 shares of the payment services company’s stock valued at $112,910,000 after buying an additional 546,389 shares in the last quarter. Finally, M&G Plc bought a new stake in American Express during the 1st quarter valued at $114,990,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of analyst reports. Citigroup initiated coverage on American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target for the company. Monness Crespi & Hardt lifted their target price on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Royal Bank of Canada upped their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods raised their price objective on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Finally, Compass Point initiated coverage on shares of American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, American Express currently has an average rating of “Hold” and a consensus price target of $230.78.

American Express Stock Up 0.1 %

Shares of AXP opened at $268.95 on Friday. American Express has a 1 year low of $140.91 and a 1 year high of $271.49. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a 50 day simple moving average of $249.10 and a two-hundred day simple moving average of $236.97. The firm has a market cap of $193.46 billion, a P/E ratio of 22.15, a P/E/G ratio of 1.42 and a beta of 1.21.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. The company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.89 EPS. On average, analysts forecast that American Express will post 13.12 earnings per share for the current fiscal year.

American Express Company Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.